capital markets

Audit committees in public companies

When a company is listed on the stock exchange, it should appoint an audit committee within the supervisory board. The committee must include an independent director with audit or accounting competence.

Foreign exchange permits and reporting

Although foreign exchange permits are rarely required in Poland anymore, companies must still remember about certain central bank requirements in this area.

Best practice just gets better and better

Under amendments to the WSE Code of Best Practice, companies will have to publish their sponsorship policies and comment on false reports about the company.

What does a shareholder have the right to know about a public company?

At a general meeting of a listed company, shareholders have a right to ask questions about the company’s affairs, but management is not required—or even allowed—to answer some of them.

Omnibus securities accounts in Poland

From 2012, foreign investors wishing to invest directly in financial instruments in Poland should no longer need to open a securities account at a Polish brokerage or trust company.

UCITS IV Directive not implemented in time-what to do now?

The deadline for Poland to implement the EU’s revised investment fund regulations came and went on 30 June 2011, but since then the Ministry of Finance has published its initial proposal to codify UCITS IV.